CI Security Raises $9.6M to Help Customers Manage Cyber Threats
CI Security, a startup that provides its customers with cybersecurity software and expertise in detecting and responding to digital intrusions and threats, announced Monday it has raised $9.6 million in new funding. Seattle-based CI Security, which was previously known as Critical Informatics, says it plans to use some of the new cash to continue developing its products and services.
The only investor CI Security named in a news release announcing the Series B round was East Seattle Partners, which is led by Alan Frazier, a well known west-coast investor who runs the fund Frazier Healthcare Partners. East Seattle Partners, which is separate from Frazier Healthcare Partners, invests in early- and mid-stage businesses in the Pacific Northwest, as well as commercial real estate properties, according to the release.
CI Security says it has raised more than $16 million since launching in 2012.
Guarding against hacks and data breaches is a concern for organizations in nearly every industry. The sector’s breadth is one factor expected to make cybersecurity a $177 billion industry globally by 2025, according to a projection by Ireland-based Research and Markets.
CI Security’s customers belong to a variety of industries, including healthcare, manufacturing, financial services, and government. The startup employs analysts and engineers who work with its customers’ security specialists to monitor and assess potential threats.
Today, many businesses store their internal and customer data using cloud computing services such as Amazon (NASDAQ: AMZN) Web Services and Microsoft (NASDAQ: MSFT) Azure, of course. Some of CI Security’s customers rely on such services, and the startup says its software can be configured to monitor AWS and Azure severs hosting their data.
CI Security says its cybersecurity tools and services can monitor medical devices and other Internet-of-Things devices.
In addition to its offices in downtown Seattle, the startup has security operations centers in the Washington cities of Bremerton and Ellensburg.